NGX's Swoot Pays N2.55 Trillion Income Tax, Boosting Nigeria's Revenue Targets
The Nigerian Exchange's popular stock, Swoot, paid N2.55 trillion in income tax in the first nine months of 2025, covering 92.7% of the federal government's entire N2.75 trillion CIT target for the year. This marks a 63.74% increase from the previous year and exceeds the government's entire CIT projection for 2024.
Swoot's performance is seen as crucial to the government's non-oil revenue strategy, contributing significantly to the target of N5.71 trillion for 2025. Analysts highlight the importance of stabilizing economic conditions to prevent underperformance in heavily import-dependent sectors.
Tax experts emphasize the need for proper tax compliance to boost government tax earnings.
Plus234Feed summary based on reporting from NairaMetrics. Read the original report below.
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